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Originally published Thursday, July 14, 2011 at 11:08 AM

Fisher Plaza for sale, could fetch $142 million

Fisher Plaza is officially for sale and was recently appraised at $142 million, according to a report by GlobeSt.com, which interviewed an executive whose firm is helping KOMO-TV parent Fisher Communications decide what to do with the property.

Seattle Times business reporter

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Fisher Plaza is officially for sale and was recently appraised at $142 million, according to a report by GlobeSt.com, which interviewed an executive whose firm is helping KOMO-TV parent Fisher Communications decide what to do with the property.

"Interest is strong from national office and data-center buyers, as well as local Seattle real-estate players," Steven Moore, of Moelis & Co., told GlobeSt.com, a commercial real-estate news site.

Moelis, which is based on the East Coast, is taking the lead in selling the property. CenturyPacific, of Seattle, is assisting Moelis, said Michael Finch, vice president of CenturyPacific.

Fisher CEO Colleen Brown said Thursday, "It does not mean our previous strategy or announcement has changed. ... We are exploring strategic alternatives for the Plaza, including sale and financing alternatives."

Fisher tried to sell the two-building, roughly 300,000-square-foot complex near the Space Needle before the real-estate market crashed. It is valued at $106 million in securities filings.

In March, the broadcast company hired Moelis & Co. as a financial adviser to find out how much the plaza might fetch.

Brown said she plans to use some of the proceeds to pay off Fisher's $100 million of debt.

The plaza — whose exterior is the fictional hospital in the TV series "Grey's Anatomy" — houses retail on the ground floor, and office and data-center space on the upper five floors, including Fisher Communications' headquarters. About 13,000 square feet are vacant, according to OfficeSpace.com.

It also has underground parking for 504 cars and satellite dishes and a heliport on the roof.

Seattle Times reporter Eric Pryne contributed to this report.

Melissa Allison: 206-464-3312 or mallison@seattletimes.com

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